GAMMA Investing LLC Has $3.68 Million Stock Holdings in Chevron Co. (NYSE:CVX)

GAMMA Investing LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,401 shares of the oil and gas company’s stock after purchasing an additional 5,044 shares during the quarter. GAMMA Investing LLC’s holdings in Chevron were worth $3,679,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in Chevron during the third quarter worth $29,000. Rational Advisors LLC bought a new stake in shares of Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the subject of several analyst reports. Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company lifted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group boosted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $175.19.

Chevron Stock Performance

NYSE CVX opened at $146.71 on Friday. The company’s 50 day moving average is $153.81 and its 200-day moving average is $151.30. The firm has a market cap of $263.65 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 2.93 and a beta of 1.10. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the company earned $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.44%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.